Board of Statutory Auditors


Functions Composition Appointment of Auditors


According to the law and the Company bylaws, the Board of Statutory Auditors is entrusted with monitoring the following:

  • compliance with the law and the bylaws;
  • respect for the rules of correct administration;
  • the adequacy of the organisational structure of the Company for the aspects within its competence, of the internal control and administration-accounting system, and of the reliability of the latter to correctly represent the operating results;
  • the ways in which the corporate governance rules specified in the codes of conduct prepared by companies that manage regulated markets or professional associations, which the company declares to follow, are actually implemented;
  • the adequacy of the instructions issued by the Company to its subsidiaries regarding the reporting of price sensitive information.


The Board of Statutory Auditors carries out its duties by exercising all of the powers conferred upon it by law and, since it can rely on a constant and analytical information flow from the Company, during and beyond the regular meetings of the Board of Directors and its Committees.

In fulfilling its functions, the Board of Statutory Auditors, besides participating in all the Board of Directors and Shareholders' Meetings, also takes part in the tasks of the Remuneration Committee and the Committee for Internal Control and Corporate Governance. Moreover a Standing Auditor, became a member of the Supervisory Body in accordance with the legislative decree No. 231/2001.

Last Revised: 18 2009